Social impact bonds to look at homelessness support
The State Government will work with two local homelessness support services to see if a new approach to addressing homelessness can be trialled through a partnership between Government, the private sector and the non-government sector.
Health Minister Jack Snelling said the Government is negotiating with the Hutt Street Centre, in partnership with Common Ground Adelaide, to trial a program which would be delivered through a social impact bond.
"Social impact bonds are a new way of Governments working with both the private sector and NGOs to deliver services that support vulnerable people," Mr Snelling said.
"The private sector invests in the programs, with the Government providing a return to investors based on the initiative's outcome.
"The focus on improving outcomes is a key feature of the model, with the return to investors varying – depending on the success of the program.
"The proposal from the Hutt Street Centre and Common Ground aims to deliver intensive support to at least 400 South Australians who have experienced homelessness.
"The Hutt Street Centre and Common Ground proposal involves intensive support to individuals over three years - helping them find a place to live, the training they need to secure work and ultimately re-engage with society."
Mr Snelling said the decision to negotiate with the Hutt Street Centre and Common Ground was made following a recent Expression of Interest process for social impact bonds which invited proposals from the non-government sector.
"Social impact bonds are being trialled in New South Wales, with other states investigating establishing programs – but it's still relatively unexplored territory in Australia," he said.
"We've chosen to take this project to the next stage of negotiation as it has the potential to achieve significant benefits for the broader South Australian community.
"If successful, this project could help improve the quality of life for at least 400 vulnerable South Australians, while delivering immense flow-on benefits to the broader community through reduced demands on our health, justice and homelessness support systems."